Flagstar Bancorp, Inc. (NYSE: FBC) ("Flagstar"), the holding company for Flagstar Bank, FSB (the "Bank"), today announced that Mark R. Patterson, Chairman of MatlinPatterson Global Advisers LLC ("MP Global Advisers"), has resigned as a director of Flagstar and the Bank.

Joseph P. Campanelli, Flagstar's Chief Executive Officer and Chairman of the Board said, "Mr. Patterson has been a valuable addition to our board of directors since 2009, and we have benefited greatly from his expertise and guidance. We appreciate his many contributions and thank him for his service to Flagstar."